Massive Data Breach Impacts 27 Million South Koreans

South Korean authorities have reported a massive data breach affecting more than 70 percent of South Korea’s population after a group of hackers successfully extracted the personal information of 27 million users from various gaming and movie ticketing websites.

According to local media, the scheme led to the arrest of a 24-year-old man, known as Kim, and 15 others associated with the crime, which had been illegally circulating the personal information from about 220 million records.

The data compromised included user’s names, resident registration numbers, account names and passwords. Police suspect the information was being used to steal online game currency that was later re-sold for profit, earning Kim an estimated 400 million won, or $391,000.

In addition, authorities believe Kim was also selling the personal information to other scammers, such as mortgage fraud crooks and illegal gambling advertisers, with price tags ranging from 10 to 300 won per item.

The situation is still being investigated as authorities look into how the stolen records were circulated.

Police are also searching for seven other accomplices, including a Chinese hacker who had allegedly given Kim access to the millions of records.